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Thursday, Sept. 2, 2010 RSSSEND TO A FRIENDPRINT
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Top Stories
Opinion: Five Reasons to Be Optimistic About the Economy
NADA Economist Says August Auto Sales, As Expected, Lower Than Last Year
Manufacturing Rebound Spurs Biggest Stock Rally in Months
GM Posts Gains for 3 of 4 Brands, But Chevy Down 22%
Jeep Leading the Way
BMW Sales in U.S. Top Toyota's Lexus for Third Straight Month
Committed to Community: City Police Win Award from Auto Dealers Group
NADA University Learning Hub Seminars Coming to California
Top Stories
Opinion: Five Reasons to Be Optimistic About the Economy
By Neil Irwin

The economic outlook has become steadily gloomier over the last couple of months. On one hand, these weak economic results are to be expected. On the other hand, however, a certain fatalism — that a double-dip recession is inevitable — has crept into a lot of economic analysis lately, and it may be overstating the degree to which we are in dire straits. (Read more)
Source: The Washington Post

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NADA Economist Says August Auto Sales, As Expected, Lower Than Last Year

In response to today's new-vehicle sales report for August, Paul Taylor, chief economist of the National Automobile Dealers Association (NADA) issued the following statement: “It's no surprise that August’s auto sales results are lower than those of last August, when the ‘cash-for-clunkers’ program was in full swing. Toyota’s 31 percent August sales decline is understandable, considering last year’s results were driven largely by "clunker" incentives for small cars and hybrids. GM’s 21 percent decline against last year’s bankruptcy period is telling of the slow overall sales period the industry has entered, as growth in the economy slows." (Read more)
Source: NADAFrontPage.com

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Manufacturing Rebound Spurs Biggest Stock Rally in Months

After their worst August in nine years, stocks kicked off September with a big snap-back rally, following the release Wednesday of surprisingly good news about the U.S. manufacturing sector. (Read more)
Source: The Washington Post

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GM Posts Gains for 3 of 4 Brands, But Chevy Down 22%

General Motors Co. posted strong August sales at three of its four remaining brands. But Chevrolet, struggling with tough comparisons against last year's cash-for-clunkers bonanza, posted a 22 percent drop in sales, dragging overall demand for the automaker's core brands down 11 percent last month. (Read more)
Source: Automotive News

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Jeep Leading the Way

Chrysler defied the industry trend with a 7% increase in new vehicle sales in August from a year earlier when Cash for Clunkers inflated most of its competitors’ sales. (Read more)
Source: Detroit Free Press

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BMW Sales in U.S. Top Toyota's Lexus for Third Straight Month

BMW sales rose to 19,540 as deliveries of its 1 Series gained 53 percent and the 7 Series climbed 42 percent, the Munich-based company said yesterday in a statement. (Read more)
Source: Bloomberg

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Committed to Community: City Police Win Award from Auto Dealers Group

NASHUA, N.H. — The Nashua Police Department was the recipient of an award presented by the National Automobile Dealers Charitable Foundation. The award was presented to Police Chief Donald F. Conley by John E. Tulley II. (Read more)
Source: The Telegraph (Hudson, N.H.)

Editor's note: If you have a story about involvement in your community, send it to publicaffairs@nada.org.

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NADA University Learning Hub Seminars Coming to California

Attention all West Coast dealers and managers: NADA University is bringing three of its most popular and informative seminars to you! Take a look at what's coming to Southern California in the fall. (Read more)
Source: NADA University

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Quotable
 
"It's no surprise that August’s auto sales results are lower than those of last August, when the ‘cash-for-clunkers’ program was in full swing."

    — Paul Taylor, NADA chief economist, in response to today's new-vehicle sales report for August, NADAFrontPage.com, Sept. 2

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